6. Always save money:

When you get paid, take a percentage or a fixed amount of the amount of money you’ve been paid and put it in a safe place: a bank account, a safe placement, etc.

This way, you will create some assets that you’ll be able to make fructify in the future.

On the other hand, the people who systematically spend all the money they earn will still be at the same point in 2,3,4,5… years.

So pay yourself first: each time you get paid, put some of the money in a safe place, and use the rest only after you’ve spared some of it.

7. Build a safety net:

The first thing you should do, even before thinking of investing, should be to build a safety net.

This is an amount of money you store in a safe place in case of financial issues (if you lose your job for example, or if your sales drop in your business).

Having this amount of money available will enable you to take some distance.

It will enable you to clear your mind more easily, and to think long term.

Try to save the equivalent of the money you need for one year of living.

For instance, if you need $1,000 per month to live, try to build a safety net of $12,000.

Once you have this safety net, you will have a greater vision.

You won’t think about how you can live today, instead you will think about how you can get rich tomorrow.

When you have a safety net, you live with a mind at peace. You don’t have to cope with the stress other people have to cope to.

8. Put your money to work:

It’s great to have some savings. But it’s even greater to have some money that generates more money.

If you only have money in a bank account – cash – you’re likely to experience some loss over time.

Because of inflation, your money will lose its value over the course of time.

Instead, you can invest some of your money so that it gains value: these are placements where the value grows over time :

Shares

Bonds

Gold

Real estate

Etc.

By placing your money intelligently, you will experience gains that will move you toward your financial independence.

Placing your money is also a great way to protect your wealth (from inflation, for instance).

9. Take action:

Work actively to generate more money and to make this money fructify.

Use the plan you created, as well as the tasks lists.

By taking action, you accelerate the way you’re generating wealth.

Why not start a business? Why not use some of your money to launch a company that will pay a high reward?

Why not invest some of your money in real estate and rent a flat or a house, to generate additional income every month?

Invest some of your money in shares that have the reputation for being quite safe.

Take action now.

Stick to your plan.

10. Diversify your placements:

There are two reasons to diversify your placements:

Protect your wealth: if an asset loses its value, you’re not broke. You have other assets.

Generate stable steady income over time: when you have a variety of placements, you’re income is steadier. That leads to more security. You’re relieved from the stress you could have if your income was generated by only one source.

Don’t put all your eggs in one basket.

Diversify your wealth:

Shares

Bonds

Gold

Cash

Real estate

Etc.

11. Stay out of debt:

Beware of debt.

Avoid being indebted, because it prevents you from achieving financial freedom.

The only reason to become indebted is to make an investment that will make you richer in the long term.

Anyway, try to pay your debts as quickly as you can.

Because your debts make your poorer.

12. Don’t spend your money, invest it:

Do you know the difference between a spending and an investment?

When you spend money, you give it away.

When you invest money, you put it to work.

When you’re about to pay for something, ask yourself if it’s a spending or an investment.

Will you have a return on investment?Or is it just a spending to satisfy a desire that you have?

For example, when you pay for an ice-cream, you spend your money.

On this other hand, when you use your money to buy some assets, you invest your money.

13. Get ideas from new people:

Meeting people can help you achieve your independence, because people you meet can introduce you to new perspectives.

People you meet can give you ideas you wouldn’t have by yourself. Several of my ideas resulted from discussions with other people.

But that’s not all…

Other people can open you to more opportunities.

You can meet people who have achieved your goals, and they can give some useful tips to move you closer to your financial freedom.

They can also share with you some moments of difficulty they had when they were trying to reach their goals.

14. Surround yourself with successful people:

“You’re the average of the five people you spend most time with.” said Jim Rohn, a successful entrepreneur, author, and motivational speaker.

If you spend most of your time with successful people, you’re likely to become successful, like them.

On the other hand, if you spend most of your time with losers, you’re likely to become a loser, like them.

Whether you want it or not, your mindset is largely influenced by people you spend a lot of time with. As well as your expectations and your ambition.

If you spend most of your time with successful people who have achieved all of your goals and even many other things you didn’t even think to attempt, your standard will rise.

Your goals will seem ridiculously simple to reach. It will propell you toward success.

That’s why you must surround yourself with successful people.

Try to spend many hours each week with this kind of people.

It’s easier than you think:

You can do it virtually, by watching videos of such people, or by reading books written by such people, or by listening to podcasts recorded by such people.

15. Beware of taxes:

It’s no secret that taxes can be overwhelming.

Over the course of years taxes can be quite harmful to your wealth. They can slow your progress dramatically.

That’s why you must do everything you can to optimize this.

Try to use laws that can help you pay less taxes. If you can, take advantage of government plans to get tax credits.

And invest your money in a way that you won’t have to pay a lot of taxes.

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